Panama's president sent lawmakers a bill Monday calling for a referendum on whether the government should undertake the biggest modifications to the Panama Canal since it was opened in 1914.AP reports the project involves construction of a third set of locks on the canal that would reduce long lines of ships trying to cross the canal and allow larger ships to pass through. It is projected to cost $5.25 billion in a country whose annual budget is $6.5 billion.
President Martin Torrijos says the expansion is necessary to keep the canal competitive in the 21st century.
Full article: Panama Seeks $5.3B Project to Expand Canal
